exploration

Rising Wedge Strategy AUD/USD 342 pip move

FX:AUDUSD   Australian Dollar / U.S. Dollar
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1
Setup : Sell when price breaks from the bottom of the rising wedge . 342 pip move.. This is big fish story.
My calculation low of the rising wedge 1.0148 minus High of the rising wedge-1.0490 1.0148-1.0490= 342 pips profit target

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Comments

Price action is moving slow and is flushing the stop outs..price is at a resistance all the wedge break outs ...hind sight: i moved my stop out to higher ground instead of a stop out in this case because of resistance that hit on the weekly charts ..resistance is 1.0516 area.. support is 0.9380 i took on some heavy draw down to still try to reach a profit target. The way it is some times..
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The rising wedge is still rising in a slow way
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Price retested this wedge and went close to stop out but no stop out ..still watching price action
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Price is driven by a price wedge..price gets stuck in a wedge until there is a break out or until exchanges are done
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Good break out from bottom of the wedge +70 pips
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Price action is getting closer to a break out AUD/USD rising wedge,..this one is going to be big:)
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